FIR against Mehul Choksi in Delhi: Delhi HC seeks status report

FIR against Mehul Choksi in Delhi: Delhi HC seeks status report

"The agency is investigating 79 shell companies owned by the Gitanjali Group chief and 41 owned by Modi in India", an ED official told IANS on the condition of anonymity.

The Enforcement Directorate has seized nine cars owned by Nirav Modi and his group companies in connection with the Punjab National Bank (PNB) fraud case.

The body froze Nirav Modi's mutual funds and shares worth Rs 7.80 Crore and Rs 86.72 crore of those belonging to Mehul Choksi Group.

IT attaches Rs 145 crore: The Income tax department has attached Rs 145.74 crore of Nirav Modi which was found in several bank accounts that the department had attached.

With today's seizure, the total value of gems and gold jewellery seized by the ED stands at Rs 5,736 crore.

PNB revealed that fraudulent transactions by billionaire jeweller Nirav Modi and related entities amounted to $1.77 billion (or over Rs 11,000 crore).

The ED has also summoned Modi and Choksi to appear before it this week at its Mumbai zonal office.

It is also expected to attach about three dozen properties in this case under the provisions of the Prevention of Money Laundering Act (PMLA) in the coming days. Sources in the ED said that the agency is talking to senior PNB officials and recording their versions to find out how Letters of Understanding were issued and misused.

Both ED and the CBI are probing the matter. Mr. Krishnan has also resigned from the audit committee.

He said the agency is examining if the money taken from banks was diverted to these shell companies.

The FIR alleged that on the day of opening of the retail franchise store in Rajouri Garden in West Delhi in October 2013, the fraud came to light as they received "third grade items".